CAMPBELL, Calif., April 13, 2020 (GLOBE NEWSWIRE) — KULR Technology Group, Inc. (OTCQB: KULR) (the “Company” or “KULR”), a leading developer of battery safety and thermal management technologies, announced today a new licensing agreement with Americase. This partnership will allow Americase to exclusively utilize KULR’s passive propagation resistant (PPR) technology and source the core materials from KULR to produce its patent pending Battery Bag to prevent lithium-ion battery thermal runaway propagation during storage and transportation.
“Together, KULR and Americase are bringing the latest battery safety technology used by NASA on the International Space Station to mass commercial markets,” said Michael Mo, CEO of KULR. “We are very excited to partner with the industry leader, Americase, to achieve another milestone in bringing our space-proven technology to broad commercial battery markets.”
Proprietary Flame Proof Recovery Packaging developed and produced by Americase has been utilized for approximately 70% of DDR (Damaged, Defective, or Recalled) battery shipments in the industry, including the Samsung Galaxy Note 7 recall in 2016, as well as recalls for virtually every manufacturer of consumer electronics. In addition to creating the world’s most widely used return packaging for damaged or defective lithium batteries, Americase is one of the leaders in providing lithium battery transportation and storage solutions for large format batteries to some of the world’s largest automotive companies.
In 2019 NASA used KULR’s PPR solution to protect laptop computers onboard the International Space Station. KULR has collaborated with and is developing PPR solutions for a variety of government, military, research, and consumer applications.
“I believe KULR is one of the most advanced innovators of PPR technology, improving safety during shipment and storage of lithium-ion batteries — especially for those with higher safety concerns created by manufacturing defects, physical damage, or exposure to specific elements such as heat or moisture,” said Robby Kinsala, CEO of Americase.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (OTCQB: KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company’s roots in developing breakthrough cooling solutions for NASA deep space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.kulrtechnology.com.
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